policy. The direct inflation targeting strategy used by the European Central Bank in applying its monetary policy has the … first criterion of implementation the expression of inflation target in terms of „headline inflation†(consumer price … consumer price index, this one ensuring the necessary transparency related to the effects of inflation phenomenon. A strong …

This paper analyzes the link between inflation and democracy in developing countries. In order to address the … positive causal relationship between inflation and democracy. It appears that democracy increases inflation because democracy …, Ghana, and Sri Lanka better illustrate the result relating to the relationship between inflation and democracy in my sample. …

supply-side effects into account, we get more persistent inflation and output reactions. We also show that the dichotomy does …, under a discretionary monetary policy, the fiscal policy regime affects the size of the inflation bias. We also show that … commitment to an optimal monetary policy not only corrects the inflation bias but also increases the persistence of output …

We develop a theoretical framework to account for the observed instability of the link between inflation and …fiscal … bank that has full control over inflation. When policy makers deviate from this Virtuous regime, agents conduct Bayesian … pessimistic about a prompt return to the Virtuous regime and inflation starts drifting in response to a fiscal imbalance. Shocks …

This paper seeks to identify factors driving consumer price inflation in the new EU member countries from Central and …-deepening effects, are important drivers of inflation. Import inflation and, by implication, exchange rate developments have an … higher inflation. The cyclical position as measured by unemployment, employment changes or the current account balance is …

economic growth and employment. Fiscal institutions , however, often use inflation in order to derive revenues (seigniorage …) and finance budget deficits. Hence, inflation is viewed as a public finance phenomenon (Barro, 1979; Mankiw, 1987; Grilli … between government budget problems, fluctuations of monetary variables and inflation dynamics in different monetary episodes. …

inflation. The purpose of this paper is to extend the range of explanatory factors in explaining macroeconomic pathologies and … to demonstrate that democracy is an important instrument in reducing inflation. The paper firstly provides a critical … analysis to the median voter theory, which claims the existence of a positive relationship between democracy and inflation, by …

minimizing the variance of inflation as the policy objective. Following current developments in the theory of fiscal … unique equilibrium. The responses of inflation to various structural disturbances in the constant money growth rate … of nominal government debts (bonds) reduces the variance of inflation in the passive monetary-active fiscal regime …

This paper tries to explain why high inflation levels persist during long periods of time, in several countries … affected by chronic inflation, without the necessary corrective measures being implemented. Political models of conflict … results of a tobit model estimated over a panel of 10 countries affected by chronic inflation and covering 43 years of …